Find the simple interest and compound interest
on 70000 for 3 years at the rate of 10% p.a.
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Answered by
3
Step-by-step explanation:
Find the simple interest and compound interest
on 70000 for 3 years at the rate of 10% p.a.
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Answered by
7
Simple interest = (Principal× Rate× Time period)/100
= (70,000× 10 × 3)/100
= 21,000
Compound Interest = Amount - Principal
= 70,000(1+10/100)³ - 70,000
= 23,170
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